Swiggy becomes Indian-owned as foreign stake drops below 50%

Swiggy has become an Indian-owned company after domestic ownership in the firm crossed the 50% mark. The company said foreign investment stood at 49.76% as of July 6, taking domestic ownership to 50.24%. This comes weeks after Swiggy failed to secure shareholder approval for changes linked to its transition into an Indian Owned and Controlled Company (IOCC).